Bitcoin Miners Heading West

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The era of China’s dominance over bitcoin mining may be coming to an end about eight years after the emerging economy took the lead. “Around 60% of the mining machine sales in the past two quarters or so have been outside of China and mostly in North America,” Mustafa Yilham of Beijing based Bixin Wallet recently said, adding: “As we start seeing more mining operations from North America, we will also start to see more US based mining pools.” Just today the Nasdaq traded Marathon Patent Group Inc. and the Frankfurt listed DMG Blockchain Solutions announced they have entered a non-binding memorandum of understanding to form the Digital Currency Miners of North America (“DCMNA”), which will be a U.S.-based non-profit entity whose mission is to create a better mining environment for North American miners, to help improve their financial performance, and to create North America’s first cooperative mining pool. Marathon…

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